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, congressman van hollen, john boehner offered a compromise this week and he said, yes, i'm willing to put more revenue on the table, but, through closing deductions and ending loopholes, not through raising rates. can you accept a compromise as part of this whole deal, that doesn't raise the bush tax rate on the wealthy? >> well, here's the issue. how much revenue are we going to generate as part of the balanced package and i take my lead from simpson-bowles in their framework and they assume the amount of revenue as if you started tax reform from a 39% rate. that is part of their built-in assumption and i'm all for doing tax reform. the issue is, from what starting point. and i think the simpson-bowles starting point, which assumes that revenue from 39%, is the right way to go to get the next they got in hitting the deficit reduction target and if what speaker boehner was saying, he is truly willing to get what we consider congressional budget office scorable revenue, then we can begin to work with one another. if what we are simply saying is what republicans used to say, we will lower rates
but jon but-off -- but speaker of the house john boehner congratulated the president while offering to work with president obama. >> if there is a mandate it is for us to find a way to work together on the solutions to the challenges we face as a nation. >> john boehner addressed the budget cuts to the pentagon and some programs that will begin next year. both republicans and democrats have said they will try to avoid those so-called fiscal cliff budget cuts at all costs. >>> the day after the election wall street took a beating. [ bell ] >> the white house is staying blue but stocks were in the red. the dow is down 312 to 12,932. its 81st worst day of the year. take a look. the dow lost 313 points today. the day after president obama was elected in 2008 it dropped 486 points. the market always doesn't move down following presidential elections. when bill clinton was reelected it rose 96 points. >>> voters approved a sales tax increase to fund county programs. it would raise $50 million each year for programs like the medical center and public health and welfare. san jose's minimum
is expected to give congress about how to avoid that so-called fiscal cliff. also this morning, john boehner will be holding his own news conference. that one is at 8:00. he's expected to sell us the republican position about avoiding that cliff. boehner said he's "the most reasonable guy in washington." he believes he can find common ground with the president. >>> 7:04. they are still counting votes in florida from tuesday's election. but mitt romney's top campaign official in florida now says president obama will win the state. president obama leads romney in florida. the romney campaign in florida says it only expects the president's lead in the state to grow as more ballots are counted. president obama won the election even without florida's 29 electoral college votes. >>> schools are scrambling to readjust their budgets after the passing of the proposition in california. schools will receive $14 billion more over the next four years than they would have if the measure had failed. high-earning californians may have to recalculate their budgets. under prop 30, people making more than $250
a dime more in taxes. i'm not going to do that." earlier, house speaker john boehner told reporters that allowing tax cuts for the wealthy to expire at the end of the year would be harmful to the economy. "the congressional budget office released a report that the most harmful consequences of the fiscal cliff come from increasing tax rates, and according to ernst and young, raising the top rates would destroy nearly 700,000 jobs in our country." the fiscal cliff is the result of the unresolved debt ceiling debate a year-and-a-half ago: $110 billion in spending cuts - half of it defense-related. it's also a list of tax breaks about to expire that includes: the bush tax cuts, the alternative minimum tax, reduced payroll tax, and the federal unemployment benefit extension. some believe that negotiations come so soon after the election that it may put pressure on republicans to compromise. "it's going to be a disaster if it doesn't get done, and the blame will be on them. they have to compromise - something they didn't do in the last session." when pressed for details as to what ground
boehner -- house speaker john boehner seems to be offering the first olive branch. >> reporter: they brought some defeat for republicans and they need to keep it inside the house and now he is tolling do -- willing to do a little more deal making with president barack obama. house speaker john boehner suggested for the first time a framework to avoid massive spending cuts and tax increases which kick in, in less than two months if congress does not act. >> they are willing to accept some additional revenues via tax reform. >> they have insisted they are willing to okay some tax increases on wealthier americans to avoid the fiscal cliff, and now the president is having his first presidential briefing at the white house this morning and there is some speculation today he could hold a news conference today. reporting live, allison burns, ktvu channel 2 morning news. >>> sad story, a student oakland has died in a fatal atv crash. he apparently hit a tree near corvallis. he was visiting friends and he went out riding yesterday at 4:00 an. the investigation is continuing as to whethe
moment. >> reporter: house speaker john boehner indicated a new willingness to work with the president. >> we want you to succeed. let's challenge ourselves to find the common ground that has eluded us. let's rise above the dysfunction and do the right thing together for our country. >> reporter: but can the speaker make deals with the white house and still satisfy tea party republicans. >> i'm not sure i see that changing over the next few years. >> reporter: usf political analyst, david latterman says republicans are at a cross roads. either continue to stone call -- >> or do they get the message that a lot of people don't want that, and there is room for compromise, and they do come to some accommodation on a couple things. >> reporter: diana feinstein says there's hope. >> we have to find some ways to use that word, which some are disdainful of berks you which i see in an enormously confident sense, and that word is compromise. >> this isn't something that i'm going drawing lining in the sand. he's not going to draw any lines in the sand, i don't believe. >> reporter: compromise ma
fiscal cliff. and john boehner will hold his own news conference. that begins at 8:00. he's expected to lay out the republican position on avoiding this fiscal cliff. boehner says he is the most reasonable guy in washington and he believes he can find common ground with the president. >>> they're still counting votes from tuesday's election but mitt romney's top campaign official is saying president obama will win florida. president obama leads mitt romney in florida, 49.9% to 49.3%. the romney campaigns says it expects the president's lead to get bilgier as more of the votes are counted. president obama was reelected without florida's 29 electoral college votes. >>> back over to sal who's checking in on the south bay right now. >> that's right and in the southeast bay we've had rain and just some drizzle and we can see it on this picture i'm going to show you, 237 is a little bit wet there and as rosemary had said a cell moved through and you could give yourself extra time. one of the biggest things that gets people in trouble is stopping distance, you're driving along, something ha
. >> reporter: house speaker john boehner reiterating his plan. the speaker saying he's unwilling to raise taxes but is open to new revenue by eliminating some tax deductions and loopholes. >> by lowering rates and cleaning up the tax code we know we're going to get more economic growth. it'll bring jobs back to america. it'll bring more revenue. >> reporter: with their starting points for negotiations defined both parties agree a deal must be reached or the economy will fall back into recession. >> i was encouraged to hear speaker boehner agree that tax and revenue is a priority. >> reporter: in washington, nicole collins fox news. >>> more details on that so called fiscal cliff. without action bush era tax cuts would end. including the child tax credit and earned income tax credit. billions of the dollars in automatic spending cuts would kick in including money for education, food inspections and air travel safety. >>> the dow industrials closed up four points the nasdaq gained nine. but for the week, both of those indexes ended more than 2% lower. >>> the unexpected resignation of cia direct
could hold his first post-election news conference. i'll have more on how speaker boehner could be offerrering erg the first olive branch during my next update. alison burns, ktvu channel 2 news. >>> 7:19. the greek parliament narrowly paced a deeply unpopular austerity package. the pension cuts pensions and salaries more than they have been cut -- the vote cuts pensions and salaries more than they have been. without a bailout loan, greece said it would run out of euros on november 16th. >>> well, today, some uc berkeley students plan a walkout demanding tuition reductions after voters pass proposition 30. the protest marks the first anniversary of occupy cal. it causes clashes between campus and police. some of the students rallying say the money that's going through the passage of prop 30 should be used to lower tuition. >>> well, administrators say the passage of two measures will definitely help with that school's financial situation. but they are not out of the woods yet. the school's been threatened with loses it's acrede date -- is accreditation partly because of its -- i
. >>> john boehner has scheduled a news conference this morning. his will begin at 8:00 and is expected to outline the republican position on avoiding the fiscal cliff. he says he is the most reasonable guy in washington and believes he can find common ground with the president. >> i'm really proud. [cheering and applause] >> president obama got a little emotional wiping away tears as he thanked his campaign staff and volunteers at the chicago headquarters the day after winning the election, the president's campaign released this video. >>> 7 navy sales accused of leaking classified information are in hot water. military officials say the seal has provided secret information to the makers of one of the hottest video games, the punishment handed down and the local connection to the story coming up at 4:45. >>> drivers will have to stay patient going through what many call the worst interchange, the 280/880 interchange, they will add another the route into valley fair from 880 and there will be a flyover ramp, the $62 million project should be finished by early 2015. >>> 4:37 is the time.
, house speaker john boehner said that congress has ways to avert the fiscal crisis, but rewriting the tax code in two or three weeks is not one of them. lawmakers have until midnight on new year's eve to reach an agreement. the first round of meetings begins today. hurricane sandy's power-packed winds swept away sales momentum in the retail sector, especially in the car industry. prior to the storm, retail sales were edging higher. the month of september was revised up 1.3% from 1.1%. but after sandy, overall, retail sales slid .3% in october, the first dip in 3 months. automaker sales plunged 1.5%, the larget drop since august of 2011. car makers blame the storm for sluggish sales and predict a rebound in november. the national automobile dealer'' association is standing by its prediction that as many as a quarter of a million vehicles suffered damage from superstorm sandy. and as our cover story explains, many of them could be resold at auction and wind up on used car lots from coast-to- coast. the national automobile dealer'' association says despite fewer than 40,000 claims filed in t
, republican house speaker john boehner will hold his own news conference. he's expected to tell us the republican position on avoiding the fiscal cliff. boehner says he's the most reasonable guy in washington and believes he can find common ground with the president. >>> they are still counting votes in florida from tuesday's election, but mitt romney's campaign advisor says president obama are will win the state. the romney campaign in florida says it only expects the president's lead in the state to grow as more ballots are counted. president obama of course won the election without florida's 29 electoral votes. >>> time 5:07. we have rain and wet roads and sal we have crashes. i don't think you're going to have friday light today. >> i'm still hoping but i think you might be right dave and pam. you should be especially careful on your way to work today. a ktvu photographer actually took some video of someone driving in the rain and this photographer, our photographer was driving out actually early, pounding rain on 880 a few hours ago. chp warns there are shrieky slick -- slick
of the house john boehner discussed the issue. gop leaders made it clear they will not support an increase in the tax rate for any american, including top earners. >> we are willing to accept new revenue under the right conditions. what matters is where the increase comes from and what type of reform comes with it. >> budget for the pentagon and other programs will be slashed next year. republicans and democrats said they will try to avoid that at all costs. we found while it could spell financial disaster, many people don't know what the fiscal cliff means to them. ktvu's tom vacar is live with how the outcome could effect all of us. >> reporter: the railroad is upgrading the tracks. but we are near the fiscal cliff. >> reporter: do you know what the fiscal cliff is? >> i don't. >> reporter: do you know what the fiscal cliff is? >> the fiscal cliff? no. i haven't heard of that. >> i haven't a clue what a fiscal cliff is. >> never heard of that term. >> reporter: you will and soon. >> enormous changes that are scheduled to happen around new year's day. >> the president and congress passed
: and for the first time yesterday, house speaker john boehner indicated republicans might be willing to consider new sources of revenue as part of tax reform and everybody is trying to figure out if that means republicans are now willing to accept some new tax increases as part of a broader deal. reporting live, allison burns, ktvu channel 2 morning news. >>> well voter turn out here in california was a lot lower than four years ago. 59% of voters in california passed their ballots this year. back in 2008, the number was over 70% and it was just over half of 70% of registered voters turn out for the election. >>> the protests will mark the one year anniversary of occupied cal which caused clashes between students and campus police. the passage of proposition 30 should be used to lower the situation. >>> the sound of earthquakes have been eliminated and the defending champion came to town last night. the bay beat the quakes final score 3-1 and robby scored 2 goals. the galaxy came onto the western conference finals in salt lake. san jose season is over now and then there is buster posey, the giant's
boehner called on the president to lead. >> this is his moment to engage the congress and work towards a solution that can pass both chambers. >> reporter: for the first time there looks to be signs of cooperation. a willingness to negotiate to find a solution. >> i'm not weighted to every detail of my plan. i'm open to compromise. i'm open to new ideas. >> reporter: the president invited congressional leaders of both parties to begin working on a plan. any balanced plan to reduce the deficit must ask the wealthiest of americans to pay more. in washington, jacqueline fell, ktvu, channel 2 news. >> a week ago a lot of people probably didn't know about the fiscal cliff. since the election it seems there are reports about it everywhere. rob roth tells us that seems to be creating a ground swell for action. you talked to a congresswoman about that this today. >> reporter: right. we're standing on 3rd avenue made up of mostly mom and pop shops just like main street usa. folks here say they not only are hoping political leaders avoid the so-called fiscal cliff, they're expecting them to find
loopholes and lowers tax rates. >> house speaker john boehner gave the republican address this morning, saying shoring up entitlements and reforming the tax code will lead to more jobs and a stronger economy. both sides agree another recession will hit if the nation falls over this so-called fiscal cliff, which is a combination of automatic spending cuts and tax rate increases that are scheduled to kick in at the start of next year. >>> thousands of customers are still without power nearly two weeks after sandy hit, and now their utility might raise their rates. the ceo of con edison has said he is very sorry that some people have gone 12 days without power, but his company plans to hike utility rates for gas, steam, and electricity anyway. many are questioning the timing of such an increase. >> it seems crazy. i know they are probably dealing with an antiquated infrastructure, but i mean, shouldn't they have thought about this maybe down the road a little bit? >> i think it's outrageous, considering what people have gone through. >> if the public service commission approves the rate h
Search Results 0 to 15 of about 16

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